Santander registers two series of non-preferred obligations for 1.727 billion

Banco Santander, S.A. has registered in the Official Gazette of the Mercantile Registry (BORME) an issuance of 10,000 ordinary non-preferred notes divided into two series, for a total amount of 1,727,563,200 euros. The operation, with an issuance date of August 25, 2026, is published in issue number 196 of the gazette, corresponding to Friday, October 9, 2026, under the official reference BORME-A-2026-196-39. The entry is incorporated into the entity’s registration sheet in Cantabria.

The registration was carried out on September 25, 2026, and is recorded in the Mercantile Registry with the registration data S 8, H S 1960, I/A 5684, within entry number 450279 of the First Section (Registered Acts). The BORME, which depends on the State Agency of the Official State Gazette, is the official journal in which acts subject to mandatory registration are published, including bond issuances agreed upon by public limited companies.

Two series maturing in 2030 and 2034

The issuance is structured in two tranches of senior non-preferred debt, both denominated in dollars and with a fixed-to-fixed rate structure:

• Series SNP-273: 1,000,000,000 dollars at 5.005%, ordinary non-preferred fixed-to-fixed notes maturing in 2030.
• Series SNP-274: 1,000,000,000 dollars at 5.624%, ordinary non-preferred fixed-to-fixed notes maturing in 2034.
• Total amount of the issuance: 1,727,563,200 euros.
• Number of notes issued: 10,000, distributed between the two series.

The combined amount declared in the entry, 1,727,563,200 euros, corresponds to the conversion of the 2,000 million nominal dollars of both series.

Registry registration and other operations of the same day

Entry 450279 appears in the First Section of the gazette, dedicated to registered acts, and does not include a designated commissioner. In the same issue of the BORME, another registration for Banco Santander, S.A. is published, number 450278, relating to a different issuance:

• Amount: 220,900,000 euros.
• Issuance date: June 16, 2026.
• Characteristics: 2,209 ordinary notes linked to credit events.
• Scheduled redemption date: September 25, 2055.
• Registration data: S 8, H S 1960, I/A 5683 (24.09.26).

Financing and debt market

Ordinary non-preferred notes constitute senior debt which, in the event of the entity’s resolution, ranks behind preferred creditors but ahead of subordinated debt. This type of issuance is a standard part of the financing strategy of Banco Santander, S.A., which in recent fiscal years has registered successive series in the BORME in various currencies and maturities, ranging from Norwegian and Czech crowns to Swiss francs and dollars.

The operation strengthens the entity’s liability structure and extends the maturity schedule with two medium- and long-term references, 2030 and 2034, within a context of recurring non-preferred senior debt issuances by major Spanish banks.

Source: Official Gazette of the Mercantile Registry, no. 196, October 9, 2026, First Section (Registered Acts), page 47509 (official reference: BORME-A-2026-196-39).